CSIA Launch "20 Practical Steps to Better Corporate Governance" research report

22 Mar 2010 10:00 PM | Anonymous

The Corporate Secretaries International Association (CSIA) today released a research report recommending 20 practical steps for boards to improve their companies’ corporate governance.

View full research report on 20 practical steps to better corporate governance.

The report coincides with the formation of the CSIA, which is a Geneva-registered body representing more than 70,000 governance professionals in more than 70 countries.

“Corporate governance is undergoing much questioning given the serious governance failings that contributed to and sustained the financial crisis,” said April Chan, CSIA President.

“We are creating a global professional organization – one building on the strengths of national/territorial associations that represent corporate secretaries, who are on the frontline in helping companies implement best practice corporate governance. Governance is as much about people, as it is about procedures. Corporate secretaries are part of the solution to improve corporate governance practices worldwide. With the launch of CSIA we become a global profession with a global voice and global reach.”

CSIA will work to achieve broader recognition of corporate secretaries and governance professionals with worldwide organizations such as the WTO, ILO, OECD, IFC, WorldBank, EU and the UN. It will also promote the study and practice of secretaryship. Full CSIA members include corporate secretary associations and institutes from Australia, Hong Kong, India, Malaysia, Singapore, Southern Africa, UK/Ireland, and Zimbabwe. Equivalent professional bodies from Canada, New Zealand, and the US joined CSIA as affiliate members. 

"The creation of CSIA is an exciting development enabling industry professionals globally to work more effectively together to shape corporate governance and develop unified best practice," said Jeff Sainsbury, Executive Vice President of Global Capital Markets, Computershare, a global registrar which provides a wide range of products and services to support the corporate secretaries profession and a CSIA founding sponsor.

Written by world-renowned Professor Bob Tricker, the report draws from nine experts’ contributions, including Sir Adrian Cadbury.

The 20 steps include:

  • Check that non-executive directors have the necessary skills, experience, and courage, and fully understand the company
  • Confirm the board’s sound relationship with management
  • Check directors’ access to all the information they need
  • Consider whether the board is responsible for formulating strategy
  • Recognize that risk governance is a board responsibility
  • Monitor board performance and pursue improvement opportunities
  • Review relations with shareholders – particularly institutional investors – external auditors, corporate regulators, and societies the company affects
  • Ensure that directors’ remuneration packages are justifiable and justified
  • Ensure that company secretary’s function is providing value

For further information contact:

CSIA at ceo@csiaorg.com

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